Loan Calculator: 7 Ways to Calculate Loan Payments

A huge number of people are confused while calculating the loan amounts. To help them, we have listed out 7 easy ways to calculate loan payments.

Loan Calculator
Loan Calculator

 

  1. The interest rate calculation tool is used to know the missing loan terms like the principal amount, number of remaining payments, payment amount and interest amount. Input the remaining 3 or 4 details on the tool to get the exact missing term.
  2. The amortization schedule calculation tool is used to calculate interest and loan payment, at different payment intervals. Load the principal amount, tenure and annual interest to get the amount you need.
  3. The loan repayment calculation tool lets you know the exact monthly payment amount with interest amount. Input the amount owed, term and interest rate to get the answer.
  4. The snowball calculation tool asks all your debts with their monthly installment amount, interest rate, number of payments left and the additional amount you can add in these debts, to know how fast you can complete the debts.
  5. The interest calculator tool allows you get the monthly EMI, by giving the principal amount and tenure.
  6. Personal loan calculation tool is exclusively designed to calculate the monthly EMI and total interest cost.
  7. Apart from the above said tools, there are unique calculators for car loans, mortgage and credit card bills.

Official websites of some UAE banks like the Citibank have simple and easy online loan calculator to help their customers and to ensure their legitimacy.

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